(Bloomberg) -- JPMorgan Chase & Co.’s head of China telecommunications, media and technology investment banking Crystal Zhu has left the US lender to join rival Morgan Stanley, according to people familiar with the matter.

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Zhu will be co-head of Morgan Stanley’s Asia Pacific technology team, the people said, asking not to be identified because the matter is private. She will work on mergers and acquisitions and initial public offerings of technology companies in the region and likely remain based in Hong Kong, the people said.

Zhu was at JPMorgan for about 15 years, working as a managing director since 2019, according to her LinkedIn profile. Prior to joining the US bank, she worked for KPMG’s transaction advisory arm.

Representatives for JPMorgan and Morgan Stanley declined to comment. Zhu didn’t immediately respond to a request for comment.

Zhu’s hiring follows recent senior departures from Morgan Stanley, including Ren Chen, formerly global head of internet investment banking, and Henry Tsai, who led internet investment banking in APAC, Bloomberg News has reported.

Morgan Stanley is behind JPMorgan in this year’s APAC M&A league table, according to data compiled by Bloomberg. The volume of deals involving firms in the region has dropped about 17% this year, while activity in the US and Europe has climbed more than 40%, the data show.

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